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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foreclosing on a 2nd DOT Posted by dennis on July 26, 2010 at 9:08 AM In Reply to: Re: Foreclosing on a 2nd DOT posted by dond on July 26, 2010 at 7:12 AM : : I am currently buying 2nd td's from banks to work out or foreclose : : when we need to. Is anyone aware of any state where you have to : : payoff the 1st td at the time you foreclose on your 2nd? I did not : : think so but I have an ex-banker that swears this is the case in : : some jurisdictions. : I don't think you will find anyone on this board who can tell you what is true or not true in all U.S. jurisdictions. : Why not start with your banker contact and ask him which jurisdictions. Then you have a better starting point for your investigation. : Dond Thanks Dond, but the Banker did not know any specific jurisdictions so I put it out here to see if anybody is aware of any place that actually HAS such a rule. Not that I expect anyone knows about all areas. Frankly, I don't believe its true but this post seemed to be the easiest way to find out quickly if there are such areas. Follow Ups: Re: Foreclosing on a 2nd DOT Rick Harmon 11:34 AM, 07/26/10 (1) Re: Foreclosing on a 2nd DOT Dennis 0:07 AM, 07/27/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : I am currently buying 2nd td's from banks to work out or foreclose : : : when we need to. Is anyone aware of any state where you have to : : : payoff the 1st td at the time you foreclose on your 2nd? I did not : : : think so but I have an ex-banker that swears this is the case in : : : some jurisdictions. : : I don't think you will find anyone on this board who can tell you what is true or not true in all U.S. jurisdictions. : : Why not start with your banker contact and ask him which jurisdictions. Then you have a better starting point for your investigation. : : Dond : Thanks Dond, but the Banker did not know any specific jurisdictions so I put it out here to see if anybody is aware of any place that actually HAS such a rule. Not that I expect anyone knows about all areas. Frankly, I don't believe its true but this post seemed to be the easiest way to find out quickly if there are such areas. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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